Answer:
Material quantity variance = $9,380 adverse
Explanation:
<em>A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used. A favorable variance would mean than less quantity of materials were used than the standard to achieve a given output level. And an adverse variance would mean the opposite</em>
We can calculate it as follows:
grams
4,400 units should have used (4,400× 2 grams) 8,800
but did use <u> 10,140</u>
<u> </u> 1,340 adverse
standard price per g ×<u> $7______</u>
Material quantity variance <u> $ 9,380 adverse</u>
Material quantity variance = $9,380 Adverse
Answer: Customer centric philosophy
Explanation: In a customer centric way of doing business, the main focus of the entity remains on providing a customer positive experience before and after the sale. This can be achieved by customizing the offered goods or services as per the needs of the customers.
Thus, from the above we can conclude that the right answer is customer centric philosophy.
Answer:
Risk assessment is one of the steps used in a risk management process. The risk R is assessed by measuring the two parameters that determine it, the magnitude of the possible loss or damage L, and the probability p that said loss or damage will occur. According to ISO 31000, the Risk Assessment actually refers to the Risk Assessment.
Risk assessment is probably the most important step in a risk management process, and also the most difficult and most likely to make mistakes. Once the risks have been identified and evaluated, subsequent steps to prevent them from occurring, protect against them or mitigate their consequences are much more programmatic.
Part of the difficulty in risk management is that measuring the two parameters that determine risk is very difficult, which is why it is said to be a subjective process. The uncertainty associated with the measurement of each of the two parameters (L and p) is usually large. Risk management would also be simpler if it were possible to have a single metric that reflects all available information in the measurement. However, this is not possible, since it is about measuring two quantities. A risk with great magnitude of loss or damage and a low probability of occurrence must be treated differently than a risk with a reduced magnitude of loss or damage and a high probability of occurrence. In theory the two indicated risks have an identical priority for their treatment, but in practice it is quite difficult to manage them when faced with limitations in the available resources, especially time to carry out the risk management process.
Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in the cash flows from investing activities section.
What is depreciation?
Depreciation is an accounting technique that distributes an asset's cost throughout its anticipated useful life. Depreciation is a recurring expense that businesses report on their income statement. Assets degrade with time, losing value.
Which activities are reported on the statement of cash flows?
Transactions must be divided into the three categories of operating, investing, and financing activities that are shown on the statement of cash flows.
Learn more about cash flow statement: brainly.com/question/15278261
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